News & Updates

BOMA 2017 Office Standard: What You Need to Know

Measurement and allocation of square footage are critically important in the context of commercial office leasing, as many financial concepts, such as base rent, additional rent and tenant improvement allowances, are directly linked to the number of square feet in the applicable premises. The most common measurement system for office space is the one promulgated by the Building Owners and Managers Association (“BOMA”), which has been the American National Standards Institute Secretariat for the office standard of floor measurement since 1915.

What happened to “strategic growth” in Lakewood?

This post follows up on a post from August about a citizen initiative to limit residential growth in Lakewood, Colorado. In Lakewood, Colorado’s fifth largest city, citizens associated with Lakewood Neighborhood Partnership submitted a petition for a “strategic growth” initiative last July. The initiative aims to limit the growth of residential housing units to 1%... Continue Reading...

Offensive Name Not a Constitutional Reason to Ban Food Truck from Public Lunch Programs, Says Second Circuit

[The following case centered on an ethnic slur and this post therefore includes two references to that slur.] Reaffirming the First Amendment’s virtual prohibition on viewpoint discrimination, the Second Circuit recently held that New York state could not prohibit a vendor from participating in public lunch program simply because its name and menu featured ethnic... Continue Reading...

Success isn't accidental

Every project has a life of its own.

There are always unexpected surprises. Experience is what turns an insurmountable mountain into a speed bump. Our experienced team of legal counselors moves things forward with fewer hassles. Let's walk through a scenario to illustrate how our skill in dealing with complex issues will keep your project moving forward.

Step 1: What's inside your wheelhouse?

Every successful business understands what they're good at. You've spent years honing your craft and amassed a team of talented people to deliver your product or service. Now you need a place to build it.

The Hunt Begins

Step 2: Find the Site and Do the Math

It's time to test the waters and identify options. Finding the right location can be elusive- not to mention it feels like a game of cat and mouse. Nevertheless, you start your hunt for the perfect space.

This is the right time to give us a call so that we can understand your vision and give you the best guidance. As you identify properties, you'll run pro formas to help you evaluate the numbers. And, just in case you're wondering, we speak pro forma. We'll give you guidance on which potential venues pass the sniff test.

Putting the Deal Together

Step 3: Creating the Structure and Mapping Out the Money

This is a really critical step in your planning. Once you've identified a location, it's time to put some serious thought into your structure and related funding stack. We work with you to figure out how best to structure the deal: what is the mix of debt and equity? Who are the players? Who controls the development and makes the decisions? We'll create LOIs (letters of intent) to lock in the team, the funding and the key terms of the deal.

Nearing the Home Stretch

Step 4: Agreements and Implementation

We'll be there with you on the next step as we draft operating agreements, purchase and sale agreements, construction documentation and put loan docs together. At the same time, we keep things moving forward with regulatory approvals, zoning, permits, development agreements and whatever other documents are required for your specific deal.

At this point we might encounter a few unexpected bumps in the road, but after doing this for thirty years, there aren't many surprises we haven't encountered. We'll lead you through the delicate dance around those potholes to keep things moving forward.

Moving Dirt

Step 5: Construction

It's always feels great to dig the shovel in and move first dirt. A grand vision and great planning will ensure a good build. Just in case anything comes up, we're close at hand to resolve any issues or disputes during construction.

What Comes Next?

Step 6: Leveraging the Asset

You've finished the construction and the project is filling up. It's time to decide if you want to hold onto the asset or sell it and move onto the next project. We're happy to help evaluate the financial and legal implications of your options. Congratulations on a successful project!